Skip to main content

tv   Starting Point  CNN  November 8, 2012 7:00am-9:00am EST

7:00 am
divided congress, can he avert disaster? the dow jones has its worst day of the year. i'll look at what was hit hardest and which stocks is came out on top. plus, are we in for another slide today? and she's facing her shooter in court. former congresswoman gabby giffords set to appear at the sentencing of jared loughner and her husband will have something to say in court. lots of folks to talk to this morning. we'll be chatting with republican senator kay bailey hutchison from texas. ohio congressman steve latourette, he's from ohio. san antonio mayor julian castro will be with us. dr. sanjay gupta will join us. comedian david allan grier -- im struggling to speak today -- will join us. it is thursday, november 8th, and "starting point" begins right now. morning, welcome, everybody. let's start with that powerful nor'easter that's coming on the
7:01 am
heels of an epic hurricane. it's bringing the northeast once again to its knees. thousands of superstorm sandy victims in new york and in new jersey enduring damaging winds and driving snow and bitter cold temperatures, all in the dark. as of 3:00 this morning, there are close to 700,000 customers in new york and new jersey, who don't have power. that number's rising. more than 1,500 flights have already been canceled, and just when service on the long island rail road was returning to normal, it was again suspended last night. team coverage of this early winter storm. susan candiotti is with us live from asbury park in new jersey. rob marciano is live in staten island, where they are reeling from last week's hurricane. so much damage there, rob. good morning. >> reporter: good morning, soledad. boy, they didn't need this. and we didn't actually expect to be this much snow. we knew there would be some snow, but not to the point where it was piling up. so this is an area where during the height of sandy, the storm surge was up and over my shoulders. so most of these homes, at least
7:02 am
their first floor has been wiped out. in some cases, like this house right here, the home actually pushed off its foundation. we've got that. we've got a dumpster here to clean up some of the debris from the storm and obviously the snow that came through last night. been talking to people who live here the past few days. here's what they said they've been going through emotionally and physically. >> i went through the most pain that i ever went through in my whole life, from being electrocuted trying to get back into my house to watching all my possessions and my family practically almost dying. >> this has been a week from hell. i mean, you know, i'm grateful that i have my family. >> reporter: just trying to survive. you know, they do have a generator, but still long lines at the gas pump. so just to get fuel for the generator, they don't have it on right now, just trying to stay warm and survive. thankfully, the storm is over
7:03 am
here and will be melting today. slightly above freezing, but it will happen. new york, by the way, set a record for 4 inches of snow. the earliest they've done that since they've been keeping records. the snow band now, and the wind gusts, by the way, gusting to over 70 miles an hour in some spots yesterday. that's why we have additional power outages. our weather map shows you that. here's the radar. the snow, eastern long island, connecticut, cape cod. that's where the brunt of it will be the next several hours. then it moves out to sea finally. to have this, soledad, just nine days after sandy came through, you never would think it, and these people certainly beat down physically and emotionally. >> it is so unfair. it is so awful for them. our hearts just break for them. rob marciano for us this morning. thank you, rob, appreciate that. let's get you to new jersey now, where hundreds of communities along the shore are also still reeling from hurricane sandy. governor chris christie says this latest nor'easter could actually send his state's recovery moving backwards. lets move right to susan candiotti, in asbury park, new
7:04 am
jersey. let's talk a little bit about the crews that are working to restore the power that was lost from sandy. >> reporter: there was a mandatory evacuation for some of the coastal areas here. it turns out, we don't know how many people have lost power overnight because of that blinding snow that was blowing across the street. this is what people woke up to. we know that at least 40,000 customers lost power. look at the mess that they are waking up to this morning. the 40,000, those are just the people that we know about. the numbers are still coming in. new people who lost power, as a result of this nor'easter. looking down the street here, this is how high the winds were, blew down this fence. up and down here, that'll have to be picked up. a lot of utility crews are going back out at work today. we were talking to workers who were stationed here last night.
7:05 am
yesterday was blown away by the end of the day because of this nor'easter, because it started to come in as early as it did. now it's time for people to pick up the pieces, figure out where they stand. will the streets be passable. they're a mess right now. will gas supplies be able to get to the gas stations that had power, or will more stations now be out of commission, because of what happened. people have a lot to deal with here. back to you. >> they sure do. they've had a lot to deal with and now they have more to deal with this morning. susan candiotti, thanks, susan, we appreciate it. we're keeping an eye on all the developments in this new storm. we'll bring you updates throughout the show. let's turn to politics now. there is no rest after the big race. president barack obama is back at work, trying to steer the country away from that so-called fiscal cliff. it's set to begin taking effect in january. it includes $7 trillion in tax increases and spending cuts over ten years. congressional leaders have been hinting at a compromise. listen.
7:06 am
>> there's an alternative to going over the fiscal cliff. by working together and creating a fairer, simpler, cleaner tax code, we can give our country a stronger, healthier economy. a stronger economy means more revenue, which is what the president seeks. >> this isn't something that i'm going to draw the lines in the sand, he's not going to draw any lines in the sand, i don't believe, and i think we need to work together. >> the president will also have to contend with a major staff shake up. secretary of state hillary clinton and treasury secretary tim geithner have both said they're ready to move on, and there are also indications that mary schapiro will follow suit as well. dan lothian is following all these developments. good morning, dan. >> reporter: good morning. that's the game, i guess, that's played every time you have transition, every four years or so, inside washington. you start talking about what names will be replacing those who will be leaving. nothing official from the white house on this kind of movement, but one of the names that's been
7:07 am
thrown around, senator john kerry, who helped the president prepare for the debates, has been talked about possibly going to state. there are other names being thrown around as well, and i'm sure those lists will continue to grow in the coming days. as for the president, nothing public on his schedule today, other than the presidential daily briefing, that will happen later this morning. the first one that will happen here at the white house, since his re-election. the president and the first family return here to the white house, late yesterday. the staff was planning to have a welcome out on the south lawn, but because of bad weather, marine one could not land here, so it was a low-key arrival. what's on the president's agenda, moving forward, you've been talking about dealing with the fiscal cliff, also the president has to work on trying to unite the country after a very divisive and very expensive campaign. in addition, the president will work very hard to try to build a different relationship with members of congress. we saw him already reach out by phone to john boehner, to mitch mcconnell, also to leadership in the democratic party. so we'll see if this promise of
7:08 am
bipartisanship will last beyond just a couple of days. >> dan lothian for us this morning. thank you, dan. let's get right to john berman with a lack at some of the other stories making news today. good morning. >> good morning, soledad. cnn is projecting that ann kirkpatrick will return to congress. she barely beat republican challenger, jonathan payton. yet several house races are still up for grabs across the country this morning. in palm springs, california, republican mary bono mack, she's not giving up. she trailed democrat raul luis with all precincts reporting, but she says a large number of ballots have yet to be reported. mack's husband, connie mack, lost his bid in florida to bill nelson. in another tight race, alan west is not conceding defeat. he's demanding a partial recount in his re-election bid against democratic challenger patrick murphy. right now murphy has a very slim lead of less than 2,100 votes, but that's slightly more than what's needed to trigger an
7:09 am
automatic recount. the man behind that anti-muslim movie that caused so much rage overseas has been sentenced to a year in federal prison. mark youssif admit head used an alias without permission. he allegedly made a different name when he made the film. that violated the terms of his probation in a bank fraud case from two years ago. former arizona representative gabby giffords and her husband astronaut mark kelly will be inside a tucson courtroom today when the man who shot giffords is given his sentence. mark kelly, he is expected to read a statement in court about the impact of the shooting. jared lee loughner murdered six people during a shooting rampage at a tucson shopping center in january of 2011. giffords and 12 others were wounded in that attack. loughner will most likely be sentenced to life inside a federal prison. that must be an emotional scene that -- >> that's got to be terrible. john, thank you. let's get right to christine for a look at the big story, the markets. >> the dow had its worst day of the year yesterday, down about
7:10 am
300 points, down 2.3%. when you look at the internals of the market, you can see a reaction of investors to the re-election of barack obama. bank stocks fell sharply. the certainty of obama care hit insurers and coal stocks, for-profit education companies, dividend-paying stocks have all fell too. one sector that was up, hospitals. obama care is seen safe now, after the supreme court ruling, after now the president won the election, and don't blame the election, though, for all of this action on the market yesterday. also flaming yesterday, europe's debt crisis, and big concerns about germany. there are also now 54 days to fix the fiscal cliff and the debt ceiling is again fast approaching. so all of these things together, taking the markets down yesterday. stock futures, though, you guys, were up a bit this morning. so at least right now -- it means with 2 1/2 hours to go to the opening bell, you don't see like a frenzy of selling continuing on from yesterday. you see investors saying, hmm, maybe that was enough selling for now.
7:11 am
>> all right, christine, thank you. still ahead this morning on "starting point," republicans still control the house, but their candidate blocks the white house with changing demographics and issues, does the party need to change as well? we'll take a closer look with texas gop senator, kay bailey hutchison, that's coming up next. christine talked about markets. what else is happening in business this morning? >> it's all about the fiscal cliff and the threat of your taxes going up at the beginning of the year. but the cliff fast approaching, it's not clear really what the congress and the president plan to do about it. "starting point" back after this.
7:12 am
7:13 am
7:14 am
morning, everybody. you're watching "starting point." the gop is taking a long look in the mirror after mitt romney lost the election to president barack obama in just about every toss-up state in the process. not only that, but a whole series of ballot initiatives went against the party, on
7:15 am
everything from same-sex marriage to marijuana. welcome texas senator kay bailey hutchison this morning. she's a republican who's retiring her senate seat on january 3rd, after a long political clear that began in 1993 in the senate, at least. so i guess congratulations on that. is it the end of this election, does it feel like a relief? does it feel like a bittersweet? how do you feel about it? >> well, of course, there are wonderful things about public service. and you'll miss part of it, but i'm so ready. and i think it's good for the process to have term limits and people serving and then going back and living with the laws that were made and knowing the experience that people are having in the real world is very important. so i am excited about going home, excited about a new career. and i'm ready. >> you're going to stick with us all morning. so we'll talk about all of that stuff a little bit later. let's talk about tuesday night's victory for the dems, loss for the gop. if you look more closely at the
7:16 am
women's vote, we know that in exit polling, president obama won the women's vote, 55% to governor romney's 44%. and if you look at unmarried women, an even bigger gap there. obama won 67% to romney's 31%. what does that tell you that the gop needs to do? what's the analysis? >> we definitely have to address this issue. when we talk about the women's issues and the social issues, people have to stop trying to act like the woman is a throwaway here. i mean, we've got to talk to women about the issues they care about. now, on economics and the job creation and the fiscal cliff, i think republicans are ahead. >> what was the conversation that was not working for republicans. >> well, i think we had republican candidates who got very high profile and said some very stupid things. >> akin, mourdock.
7:17 am
>> mm-hmm. and i think that really tainted the party. even though mitt romney tame right out and said, this is not right, we disagree with this, the party leadership did the same thing, no one embraced todd akin after he said those things, and including the republican campaign committees. but, yet, it was used in the political sense against us, and it was -- i think the feeling that republicans don't get it. because -- >> well, the contraception debate, i think, maybe died to crazy comments, if you will, by mourdock and by akin and others. >> you know, i just think people have personal beliefs and what we need to do is fashion a party around the economics and the long-term viability of the economy of our country. and i think when people start trying to go into such personal issues and then try to form a
7:18 am
party around it, it's very difficult. and i think the tea party, for instance, started by focusing on the debt and the deficit and the fiscal cliff. and then, i think, it got all mired in other issues, the myriad of issues, that sort of muddled the message that we've got to do something about the economy. we cannot sit here with a $16 trillion debt, with trillion-dollar deficits, every single year, and think we're going to get out of the mess. let's talk about the fiscal cliff, and we'll talk about it all morning, unfortunately, and probably for the next -- what is it, 50-something days? we'll be talk about the fiscal cliff. >> correct. >> so do you feel that there is a mood now? that the makeup of the house and the senate are essentially the same as they were before the election? can you have a compromise? >> yes. >> there was a gap before you said yes. that scares me. >> it's still hard.
7:19 am
because we still have such a different -- we have the same goal, but we have such different ways of believing that we can solve this problem. and it's sincere. it is really sincere on the part of republicans who don't believe tax increases are the right thing and this kind of economic dismal environment. and then there are democrats who say, you've got to raise taxes or we're not going to ever be able to close the gap. you can't close the gap with taxes. you have to close the gap with spending reform, tax reform. you have to look at the whole system. we cannot keep spending like there was no tomorrow. >> we're going to keep talking about this throughout the morning. and christine is knee deep in fiscal cliff, so she'll be sticking around as well and john too. thank you for talking with us. we love having you this morning. we'll take a short back and are back in just a moment.
7:20 am
7:21 am
7:22 am
7:23 am
welcome back, everybody, you're watching "starting point," along with senator kay bailey hutchison from texas. who's sticking around. and we also have richard socarides. >> did you write that convention speech? >> i did and i'm not getting enough credit. >> ryan linza is with us as well, he's a washington correspondent for the new yorker. a little warning, i'm having trouble speaking today. it must be all the lack of sleep, but i'll plow through anyway. election is over, yay, it's over. now everybody in washington, d.c., has moved into another dramatic thing, which is the fiscal cliff that we've been talking about. it's massive spending cuts and tax increases that take effect on january 1st, unless congress
7:24 am
takes some action to avoid it. christine, senator boehner wasting no time to begin. really, i think they called the press conference yesterday, at 3:30, had a press conference so got right into it. >> by 5:00 in the morning yesterday, the day after the election, immediately everybody was saying first order of business is the fiscal cliff. the same cast of characters, basically, in washington, but the scenery has changed, the set has changed, and now they've got 54 days to fix this this. this is what the speaker said yesterday about the fiscal cliff and where they're willing to go. >> a stronger economy means more revenue, which is what the president seeks. because the american people expect us to find common ground, we're waiting to accept some additional revenues via tax reform. >> some additional revenues via tax reform. all right, that's not saying he'll take higher tax rates on the rich, which is what the white house wants. but he is opening the door, a little, tiny bit to higher revenues.
7:25 am
and then he said this. >> but the american people also expect us to solve the problem. and for that reason, in order to garner republican support for new revenues, the president must be willing to reduce spending and shore up entitlement programs that are the primary drivers of our debt. >> translation, we're not giving you anything without you giving us what we want too. so we're starting here on the path of fixing this. and harry reid, on the democratic side, he said, it's more fun to dance than to fight. i love that, because, boy, i really wish thad been talking about that the last four years, but they've been fighting a lot and now they're starting to talk about dancing again. >> is what boehner talking about a workable model? because it sounds so moderate. give a little to this side, give a little to that side. i'm asking the senator first and then i'll ask you. >> yes, it is a workable model and we have a workable model. you have simpson bowles and you've got the gang of six. mark warner and saxby chambliss put together a group along with
7:26 am
tom coburn and pat toomey that was a way forward. and it had the support of more than 50% of the senate. >> and it crashed and burned. >> it never got to the floor. so, yes, there are workable models. the hedge is going to be, if we can have revenue with tax reform that doesn't kill growth. >> so, ryan? >> i wasn't shaking my head in disagreement -- i was saying, what boehner said, that's not that bad, as a starting negotiating position, right? your first statement out of the gate isn't going to be, you know, where you end up. everyone starts the process by laying out their demands. and nothing he said would be shocking to the white house. i mean, i think he's -- there's a bit of an olive branch there. and if you read any of the accounts of the agreements how obama and boehner in 2011, that is exactly the crux of a deal. >> maybe there's a little hope to talk about this morning, as
7:27 am
opposed to doom and gloom, which christine was spreading for us yesterday. >> i'm the doom and gloom kind of person. >> let's take a commercial break. the good news is we have a whole 90 minutes to continue to talk about the fiscal cliff -- well, just for today, 90 minutes. ahead on starting point this morning, it's a state that put the president over the top, into the white house, we'll talk ohio congressman, steve latourette, and whether the congress can get over the partisan bickering to keep taxes from going up and big military cut spending at top of the year. and he's back, anthony weiner, he's on twitter again. really? really? oh no, not a migraine now. try this... bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula.
7:28 am
the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm p. making real things... for real. ...that make a real difference. ♪
7:29 am
for real. ...that make a real difference. ♪ ♪ hi dad. many years from now, when the subaru is theirs... hey. you missed a spot. ...i'll look back on this day and laugh. love. it's what makes a subaru, a subaru. perform, compete and grow. and people are driving this change. that's the power of human resources. the society... for human resource management and its members know... how to harness that power, because we help develop it. from the next economy, to the next generation, we help get...
7:30 am
the most out of business, by getting the best out of people. shrm. leading people, leading organizations. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. welcome back, everybody. let's get rate to john berman for a look at the day's top stories. >> thanks, soledad. mother nature delivering another
7:31 am
devastating blow to the northeast overnight. another powerful nor'easter living over 600,000 customers without power this morning, many faced to deal with damaging winds, bitter cold temperatures, driving snow, and 2 to 3-foot storm surges. in the dark, over 1,500 flights have been canceled. service on the long island rail roads suspended again last night. here's the outrage story of the morning. new york's emergency management chief fired by the governor for allegedly sending workers to his own home on long island to clear a fallen tree. the controversial sheriff of maricopa county, arizona, has been elected to another term. 80-year-old joe arpaio, he's 80 -- >> wow, i didn't realize he's 80. >> -- and he's known for his tough stance on undocumented immigrants. both the aclu and u.s. justice department has filed lawsuits against arpaio, accusing him of civil rights violations and racial discrimination against latinos. very interesting decision out of puerto rico, has been overshadowed a bit by the presidential election, 61% of the u.s. voters in the territory
7:32 am
voted in favor of statehood. the vote is nonbinding and would require action by congress, but this marks the first time ever that puerto ricans have voted in favor of that status change. the director of massachusetts pharmacy board has been fired and the board's attorney is on administrative leave. this is in connection with the deadly meningitis outbreak. massachusetts officials say they ignored a jury complaint that necc was sending bulk shipments of drugs to colorado, which reportedly violates necc's colorado and massachusetts licenses. other medical news. if you're taking stattens to keep your cholesterol down -- >> i am. >> -- you might be getting other benefits too. they could also help reduce your chances of dying from cancer. >> that's great news! that's better than good. >> these statins keep cancer cells from growing and can make them more treatable. the study is out today in the new engla"new england journal o medicin medicine". >> i love personalizing the news. what else do you have for me? >> more news, with certitude, anthony weiner is back on
7:33 am
twitter. >> why? >> he posted his first tweet yesterday since resigning nearly 18 months ago. you'll remember, he sent a racy picture to someone on the social network. his tweet, yesterday, for a good cause. it included a link to a youtube video, raising awareness for victims of sandy in the rockaways, which was part of his old congressional district. so that was for a good cause. it was! >> should he be banned from twitter for life? >> first of all, you know i'm not for banning anybody from anything. i'm just saying. >> why are you so outraged? >> can i mention, my daughter's school is having $1 denim day. >> what does that mean? >> it means they can wear blue jeans instead of their school uniform ifs they give $1 to sandy victims. so the whole school, i will guarantee you, will be wearing blue jeans on friday and it will be for the sandy victims. >> if they kept the kids another eight hours, the parents could each give another $5,000. >> exactly. and raise a lot of money. >> maybe you could get anthony weiner to talk about that and we'll raise even more money. >> i don't believe in banning
7:34 am
hip, but, really. >> not going there. so not only are the people fed up with gridlock in washington, d.c., but many others are well. so much so that olympia snowe and steve latourette are calling it quits. and congressman latourette joins me this morning. walk me through your frufs. exactly what has been bugging you to the poison where you're getting at? >> i've been at it for 18 years, and i came in the gingrich revolution of 1994. and the difference is that the small things that we used to be able to do in a bipartisan way, we can't get done. that would be the farm bill, the transportation bill. for crying out loud, we couldn't even agree to leave town for the election. we don't have an adjournment resolution, which is why the house comes in every tuesday and friday for a pro forma session. and that lack of willingness to find common ground on the no-brainer issues, really is what put me over the edge,
7:35 am
together with when we did put simpson bowles on the floor in the spring, jim cooper of tennessee and i, we got 38 votes out of 435. >> so there's a theory that would say, stick with it, and help fix it from the inside. i mean, i think angus king, who's been elected now in maine, he said his perspective was sort of the opposite of olympia snowe's. he said, "i ran for the mirror image of the reason she left. she saidhe couldn't take it anymo anymore," which is kind of what you're saying, and he said "and i ran because i think we just got to, we have to try a different way." and you're describing what all the american people want. la like, we have elected you, go figure oiit out. >> john boehner's a good friend of mine. i was encouraged by his observations. and for those who know the inside baseball story of what happened during the debt crisis, the president and speaker
7:36 am
boehner were very close. and where they got called back from making the big deal wasn't quite simpson/bowles, because was a model, they got pulled back by the extremes in both of their party. the no tax pledge people in the republican party yanked boehner back, and the don't you dare touch the middle class entitlements are in the president's party pulled him back, and so those talks collapsed. their statements yesterday reflect that they're willing to give that another stop. so what we did, we represent the centrist republicans, we're beginning to be applying for an endangered species status, but we asked frank lutz to do a poll on this question, and we intend to make sure everybody in our party takes a look at it. when we got thrown out in 2006, our concern was we weren't conservative enough. and the poll shows that people want people to work this out. and they didn't send the same bunch back in this election, because they love what they're
7:37 am
doing, they sent him back, because they don't trust either side, but they do expect them to get this thing done. >> the tea party,n i want to red what they said. they said they're going to put up a fight, basically, for the future of the gop. "we wanted a fighter like ronde reagan. what we got was a weak, moderate candidate, talking about romney, hand-hicked by the beltway elite and the country club establishment wing of the republican party. the presidential loss is unequivocally on them. with the catastrophic loss of the republican elite's hand-picked candidate, the tea party is the last best hope america has to restore america's founding principles." that's from jenny beth martin, a national coordinator of the tea party patriots. is she wrong? is the tea party america's next best hope? >> listen to me. there's a one-word phrase we use in ohio for that -- crap. that's nonsense. and if you look at what happened, we lost charlie best and frank ginta in new hampshire. the republican party cannot be a
7:38 am
national party if we give up the entire east coast of the united states and say that there aren't any -- and we don't have any republicans in new england. we don't have arepublicans in te mid-atlantic states. we can't continue to disthe latino voters. and my wife's a democrat, and she was so close to voting for mitt romney, but then, you know, mourdock and akin opened their mouth, and we sent them running back to the democratic party, because they think we're nutty. we have the right message on the finances, we have to get out of people's lives, get out of people's bedrooms, and we have to be a national party. and that's -- or else we're going to lose. >> congressman, can you just go back to what you were saying about the dynamics within the republican caucus and the house? i mean, a lot depends on, you know, how many republicans boehner can get to go along with a deal similar to what you were describing he and obama almost had in 2011. take us through the sort of politics of that. what does he need to do?
7:39 am
>> he needs to convince people, and that's why we did this survey with luntz and other people need to chime in, and basically say, and interestingly enough, in this survey, 35% of republicans said they would forgive somebody who broke the grover norquist tax pledge if it actually balanced the budget. not just to break it to break it, but to balance the budget. and what happened during the 112th congress is, you had 42, 48 of the new folks, emboldened by some old folks, and so they would didn't vote for hr-1, didn't vote for the transportation bill. they would negotiate these bills and still vote against them. and when you have -- now he's going to have a slimmer majority. if he can't deliver 218 votes, what does that do? he's got to go across the hall and say hello to nancy pelosi and say, we need democratic votes. then he's accused of being a traitor. so people have to realize that this is the big deal. we've got to fix it together. we broke it together. and then we can go back fight like cats and dogs about all the
7:40 am
other things that we like to fight about. >> steve latourette, republican from ohio, nice to talk to you. thanks for being with us. we really appreciate it. >> thank you. still ahead this morning on "starting point," ugly scene, did you see this at ole miss, a southern university, shouting racial slurs. it was a protest that got very ugly, where people were celebrating the president's re-election. we'll show you a little more of that, straight ahead. and serving up a solution to the equality problem. we talked to a tennis icon, billie jean king, straight ahead.
7:41 am
7:42 am
7:43 am
7:44 am
welcome back, everybody. you're watching "starting point." two students at the university of mississippi were arrested while they were protesting the re-election of president obama. officials say a small rally grew to about 400 demonstrators yesterday. some of them shouting profanities and racial slurs. the incident comes right after the 50th anniversary of the forced integration of the school. so unfortunate timing for them there. the university of mississippi's chancellor, dan jones, says all of us are ashamed of the few students who have negatively affected the reputations of each of us and our university. you know, they've been working really hard, i think, to change a lot of the reputation of ole miss. they had their first black homecoming queen. so i think something like this really sets them back in terms of the messaging that they want to have. but it does sound like it was a small number of students in the place of a bigger rally. >> yes. and i think that, you know, not much of this has happened. we see very little of this
7:45 am
anywhere in the country. i think the country's going to come together. i really am optimistic. i think we've got some big differences that we'll have to work out, but i think, right after an election, this is a moment where people are going to come together. don't you think? >> i do. >> i also think that the democratic party, you know, we were talking in the commercial break, with the senator, sort of about how the logistics of this fiscal cliff and what each side has to do. but i think the democratic party cannot be painted with the brush of being the fiscally irresponsible party. which, i think has been some messaging from the gop side. which is the democrats believe this, the republicans believe this, as congressman latourette said. you know, his wife, who was close to voting for democrat, when she heard the messaging from akin was like, ahh! because the messaging from the dems on the republicans is, you know, when it comes to women, they are crazy. and i think that both of those fiscal irresponsibility on the democratic side is sticking, and i think crazy about women's rights is sticking to republicans. and i think that's going to be a big problem. >> yes. and you know, the republicans --
7:46 am
the democrat also have to realize, we democrats have to realize also that the republicans have some good ideas too here. there are some ideas that the republicans put forth -- >> that's very generous of you. >> well, there are some ideas that the democrats put forth that attracted a lot of attention and really appeal to people. i think, you know, we talk about extremism in american politics and how polarized that the sides were. when people realize that it is no longer to their electoral advantage to have these extreme positions, they will come to the middle. and i think both parties are going to realize coming out of this election that compromise is going to work for them. that's what people want. and, you know, it might be a good moment. >> tell that to dick lugar in indiana. it's not crystal clear that it's good for their electoral future. >> well, and tell it to congressman latourette, right? and olympia snowe. >> and mitt romney, who was too far to the middle for the liking of the right wing of the party, who said that he was disastrous for their party. >> what happens when these centrists resign? in texas, with all due respect,
7:47 am
you're a relatively moderate senator and you're being replaced by someone much further to the right of you, ted cruz. i don't know the specific story in latourette's district, but in general, what has happened over the last 30 years, as moderates and centrists resign, they're almost always replaced by people further out on the fringes and you have a more polarized congress. still ahead this morning on "starting point," as we continue to talk about that, we're also going to talk to billie jean king, she is one of "fortune's" most powerful women. we'll talk about the battle of the sexes. a record number of won in the senate, even with your departure now. we'll talk to her about that, straight ahead.
7:48 am
trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum. so that when you find the job you want you'll be a perfect fit. let's get to work.
7:49 am
♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 2013 lexus ls. an entirely new pursuit. the new 2013 lexus ls. well, if itmr. margin?margin. don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know.
7:50 am
i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] can't find theraflu? try alka-seltzer plus for fast, liquid, cold, and flu relief.
7:51 am
welcome back, everybody.
7:52 am
president obama tapped a number of big names to campaign for him, including tennis icon billie jean king, tireless supporter of the lbgt community and continues to use tennis to promote equality long after she retired from competition. sheer is a little bit of what she told me. >> you have said that tennis is a microcosm of society. >> sports are. every sport. >> how so? >> now you have the whole world competing. in my day, we didn't have to do that. we really weren't having to compete with the rest of the world in the game. >> take me back to september 20th, 1973. of course, bobbi riggs, battle of the sexes. it was such a big metaphor. >> it really was. it was about social change. i really wanted to win this match because i knew it was about social change, number one. because i knew it would really trigger a lot of emotion in
7:53 am
people. and it did. i had total respect for bobby riggs, former number one player. i admired him. i really prepared properly. and i think that's why i beat him, that i really respected him. when he jumped the net at the end, he said i really underestimated you. >> you were talking about tennis as a microcosm of society in terms of equal pay. now, of course, there's a fight to make the winnings not equal again. >> right now the men are extremely talented at the top. i don't know if we'll ever see that many at the top that great again. so this is their moment. they really want to use it to get more money again. we only got equal prize money in the majors in '07. >> does it feel loik a fight? >> to me it wasn't even about the money. it was about the message that we send to the world. you've got 70% of the world that's in poverty. women are the ones that have to deal with it. they're the ones trying to get their families out of poverty.
7:54 am
>> why do you come to this most powerful women summit every year? >> i love people. i love to connect. i've been a small business person. i own the philadelphia freedoms in philadelphia. >> elton john sang that song for you. >> elton john wrote that song for me. it became number one, crossed over in r & b and became number one. >> by the current path it will be 70 years, 7-0 years before women and men -- there's parody on corporate boards. >> i agree. >> that long? >> yes. i've had to come to grips with the fact that i can only maybe take one step in my whole lifetime forward, whether it be in sports or tennis or helping businesses or helping the lbgt community. actually, that one has gone faster. we're in this world together. if you can have both men and women in a business -- it's proven that countries that don't have women in businesses are not going to prevail in the long run. >> what was the lowest point for you? >> probably when i was outed.
7:55 am
i wasn't ready. and i needed to be in a different place. >> your endorsements dried up. >> yep. long term, it's a blessing. short term, it's very difficult. it took me probably until i was 51 until i was comfortable in my own skin. i grew up in homophobia, family wise and culturally, in every way. it was really hard on me to go through that journey. >> are ths things better today for young people? >> oh, so much better. every ten years, every decade, it really gets better. i find if the family will accept you, you'll make it. it's when your family turns you away or tells you to leave the home or starts being abusive because of it. it's really hard. and -- but until you come out, you don't really lead a full life. sports, they teach you how to get along with people that you don't know.
7:56 am
they teach you about relationships. they teach you how to keep going, whether you win or lose, particularly if you loz and have a bad day, that you get up, dust yourself off and keep going. and it's the same way in daily life. >> still ahead on th morning on "starting point" devastating northeast battering the northeast overnight. thousands more victims of superstorm sandy are losing their power and in some cases losing their hope. we'll take you to the hardest-hit areas straight ahead. latino americans, big reason why president obama was re-elected. we'll talk about america's fastest growing voting block right after this. constipation,e l diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'.
7:57 am
a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again.
7:58 am
progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup.
7:59 am
100 calories... [ chef ] ma'am energy is being produced to power our lives. while energy development comes with some risk, north america's natural gas producers are committed to safely and responsibly providing generations of cleaner-burning energy for our country, drilling thousands of feet below fresh water sources within self-contained well systems. and, using state-of-the-art monitoring technologies, rigorous practices help ensure our operations
8:00 am
are safe and clean for our communities and the environment. we're america's natural gas. welcome back, everybody. you're watching "starting point." powerless and cold in the nor'easter. now more power outages and freezing temperatures and inches of snow are adding to the devastation. president obama back to work after winning re-election but with a looming fiscal cliff, a divided congress, can he avert disaster? the dow tanks with its worst day of the year, soledad. are we in for more trouble in the markets? today i'll look at what stocks took the hardest hit and what it means for you. facing her shooter, gabby giffords in court today for the sentencing of jared lee laughner and her husband has plans to
8:01 am
speak at that hearing. >> lots happening this morning. we'll talk with democratic san antonio mayor julio castro, dr. sanjay gupta will be with us. austan golsbee will be with us and david alan greer. it's november 8th, and starting point begins right now. welcome, everybody. our team this morning, republican senator kay bailey hutc hutchison. everybody keeps tweeting saying i'm saying it with an n and i'm not. now you're getting ready to leave. we'll talk more about what your future holds, straight ahead. richard socarides, former adviser to president clinton, washington korntd for the new yorker and john berman, christine romans sticking around
8:02 am
as well. this is such bad news for people who are already powerless, cold now in the snow, that nor'easter that struck the east coast nine days ago after that big hurricane. now they're dealing with this new storm. thousands of super storm sandy victims in new york and in new jersey had to ride out damaging winds, driving snow, four-foot storm surges, bitter cold temperatures. big problem right now. close to 700,000 customers in two states. just as it was coming back to normal, the long island rail service was suspended again. >> look at this, soledad. sunshine. this is something that they certainly are embracing this morning after the night they had and the week that sandy came
8:03 am
through. the water was up and over my shoulders at that point. any car on this road was washed down the road and gone. matter of fact, the people that live in the house behind us, they lost their cars. right here, this is nick. he has a borrowed truck from his friend, about to take one of his four sons to school. life goes on even though they spent yet another night in that house, in the cold and in the dark. more people are without power again today because of the snow and because of the wind. see you, nick. and the wind has been impressive. let's go over the snow totals. jersey and connecticut, up and over a foot in spots and it's still snowing in connecticut. some of the wind gusts, hurricane strength near the cape. that's where the center of this storm is. snow bands continue to spiral around for the next couple of hours, adding to that snow tally. this is a heavy, wet snow. that's why some trees and tree limbs have come down and power
8:04 am
outages there. obviously there's quick clearing behind this. temperatures should be above freezing today. some of this snowfall will melt. i mean, you know, damage done, soledad. certainly a little over a week after sandy came through, it certainly is not what these folks needed to have to deal with. >> at least with the sun coming out today people can start working on the lines again and get that power back, which is really what they need. thank you, rob. returning to new jersey now, governor chris christie says the nor'easter could send his stit's recovery backward. susan candiotti is in asbury park this morning. >> reporter: not surprising he said that. as the sun is coming up, utility crews are back at work. this is the mess people are waking up to. all the slush from the heavy snow they got last night. a lot of workers we ran into this morning say they would the thought maybe they would just get a dusting. far from it it. inland as much as 9.5" in this
8:05 am
area. we know some utility crews as far away from mississippi are humpgerred down in this hotel that was damaged by the storm. only half the rooms are probably able to be use d at this time because the utility crews are sleeping on cots in the ballroom here. again today they're already back at it, trying to restore power. they had made progress yesterday, utility crews told me. then by the time they ended the day when that snow was coming down, they already knew that they were losing more power than what they had restored. so a big mess here. governor christie said yesterday what's next? locust s & p ess sand pestulanc? >> people in there to clean up, help on the lines and move in the right direction. susan candiotti, thank you, susan. let get to john berman.
8:06 am
no rest after the big race. president obama back at work, trying to steer the country away from the so-called fiscal cliff, set to begin taking effect in january, 54 days from now. it includes $7 trillion in tax increases and spending cuts over a decade. congressional leaders have been hinting at a compromise. coming up in a minute, san antonio mayor and president obama's big supporter, julio castro, he will join us. ann kirkpatrick will return to congress, but seven house races are still up for grabs this morning across the country. in palm springs, california, mary bono mack isn't giving up. she trails raul ruiz with all precincts reported. her husband, connie mack lost his bid for senate. republican congressman alan west is not conceding dough feet.
8:07 am
he is dand iing a recount against challenger patrick murphy, who has a slim lead of less than 2,500 votes. that is more than what is needed to trigger an automatic recount. hillary clinton will pay tribute to slain u.s. ambassador chris stevens at an awards ceremony tonight in washington. stevens was killed in the september attack on the u.s. consulate in benghazi, libya. honoring outstanding accomplishments in conflict, resolution and negotiation. former arizona representative gabby giffords and husband mark kelly will be on hand in a tucson courtroom when the man who shot giffords receives his sentence. kelly is expected to read a statement during that hearing. 24-year-old jared lee laughner murder murdered six people. giffords and 12 others were wounded. he will be sentenced as part of a plea deal arranged in august. that will be an emotional day. >> that must be terrible.
8:08 am
president obama looking at the next four years even as the votes in florida are still being counted. republicans are examining what went wrong in their bid to win the white house. many people are pointing to the minority vote. lynndie graham talked about it last night when he was chatting with anderson cooper. here is what he said. >> i just think the honest truth is that we have a demographic problem. had we gotten 40% of the hispanic vote, mitt romney would be president. mccain got 39%, bush 41 got 41%. we're going in the wrong direction. >> the mayor of san antonio texas, julio castro, thank you for joining us. i was speaking with kay bailey hutchison. she believes ideologic aally that latinos may be sort of linked to republicans than democrats, that maybe some of these issues around immigration is what's keeping latinos from becoming republicans. do you think that's true?
8:09 am
>> well, i think that latinos are like every other community in the united states. they have the same concerns. and those concerns are several. and i know that senator hutchison, of course, is very familiar with the latino community, representing texas. i would say, though, that it's the tone on issues like immigration but also the substance, the policies that republicans have embrace d on health care, on education, on the economy. on health care, for instance, republicans are very much against obamacare. at the same time for the latino community up to 9 million more latinos will be provided with health care because of obamacare. that's a huge deal in a community that has a high rate of diabetes, of obesity, hypertension. and where literally for most -- for many folks the emergency room is their primary care physician. so having health care is a great thing. so it's not just the tone.
8:10 am
it's also the substance of the policies that republicans have embraced. >> you know when i find so interesting? you look at the exit polling. they tell you so much about the electorate. on hispanics, 2004 latinos made up 8% of the electorate. 2012 it was 10% of the electorate. if you do any kind of strextrap attachment ion of those numbers you have to say latinos were an important element of the president's re-election, but will continue to be more. don't you think? >> there are two problems for the republican party that are lessons learned from this election with regard to latinos. the first is what you mentioned, that latinos are becoming a larger share, larger portion of the overall vote. secondly, that the percentage that the democrats are getting is also getting higher. you have both of those factors working in -- to the benefit of
8:11 am
the democratic party. what it means for republicans is that they have to become a bigger tent party. they can't tow the line of the tea party and expect that they're going to be able to appeal to latinos or to other groups. >> mayor castro, it's ryan lizza. i have a question about texas. i understand everything you just said. texas, if i'm not mistaken, is a majority minority state. it will be a majority hispanic state pretty soon. they told 27 out of 27 statewide offices, both senate seats, state house, state senate. why haven't democrats in texas capitalized on this burgeoning hispanic population? why is texas not a blue state? >> that's a great question. and i think there are a couple different reasons for it. first, in texas the investment in the ground game has not been made. also unions are not nearly as strong as they are in california or certainly in the midwest. so what that results in, with
8:12 am
regard to the latino community, is that latinos in california are 10% less likely than the mainstream to vote. in texas, they're 25% less likely than the mainstream to vote. what it means is that there's groundwork that needs to be done in texas that simply hasn't been done. i think when you have that groundwork and when you have the right candidates to excite folks, then you're starting -- you'll start to see probably progress. within the next six to eight years, i believe texas will be at least be a purple state if not a blue state. >> senator hutchison is with us this morning. the mayor just talked about a bigger tent. i wonder if that's literally possible. because it seems to me that you have some parts of the party who part of the reason for being is to have that tone, for example, take a very tough tone on immigration. it's not like you can just say kumbaya, let's all come together. that makes up part of the
8:13 am
argument of the people they're appealing to in their part of the country. is it possible to have the tea party in, is it possible to have the folks who believe that the arizona anti-immigration law is a great idea and also appeal to latinos? >> absolutely. and that's what we do in texas. we are a republican state. we definitely are a red state. and we do have an outreach to latinos. and we have -- our next senator from texas is going to be a latino republican. and the reason is we are talking about the issues and we are including them in our leadership as well. but they are the small business people of our state. and that is where they -- republicans are saying we want to crow aeate jobs. we want your business to succeed. latinos are coming to us because we're championing education. we also have a dream act in texas so that our young hispanics who have come illegally through no fault of their own are going to our
8:14 am
colleges and getting educations. >> the party nationally who are completely against that. >> the reason -- i'm saying i think texas is a way forward to show that you can be very conservative and talk about the issues that hispanics, small business people and people who want their kids to get a good education embrace. and i get a very large percent of hispanic votes, as did george w. bush. and i think it's doable, for sure, at a national level if we follow the texas model. >> i spent last week in texas. i read a piece about this in "the new yorker." they're way ahead of the national party. >> it's not been as hostile as arizona. >> it was but they recently started to shift. >> julian castro is the mayor of san antonio, texas. thank you for being with us. if you ever want to join us in person, we have a spot for you. >> absolutely.
8:15 am
>> tell your people, he just said yes. president's health care law hasn't kicked in completely. dr. sanjay gupta will tell us what it will mean for your health plan. pint sized superstar. take a lock at this guy. >> it's not a guy. >> it's a girl. i didn't know that. look at this young person. >> sexist. >> it wasn't sexist. i guess it was sexist, wasn't it? >> she's killing it. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
8:16 am
♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event.
8:17 am
i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. and the candidate's speech is in pieces all over the district. the writer's desktop and the coordinator's phone are working on a joke with local color. the secure cloud just received a revised intro from the strategist's tablet. and while i make my way into the venue, the candidate will be rehearsing off of his phone. [ candidate ] and thanks to every young face i see out there. [ woman ] his phone is one of his biggest supporters. [ female announcer ] with cisco at the center... working together has never worked so well. [ female announcer ] with cisco at the center... sfx- "sounds of african drum and flute"
8:18 am
look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. now that president obama has won re-election it looks like obamacare is here to stay. what do you sxeblingt we'll see coming up, sanjay? >> primarily in 2014, more insurance regulation than even
8:19 am
health care regulation. and we've talked about this before. there's some specific things that are going to kick in for everybody, for adults and children alike that a lot of it has to do with not being able to be charged higher premiums for being sick and not being denied coverage for pre-existing condition. i'll point out that most people think of those things as providing insurance for people who can't get it at all right now. there's a lot of people who have insurance that are paying extremely high premiums. so this may provide some relief for them as well. most of that kicking in, in 2014. one of the things that this is predicated on is having what is known as these health exchanges within states. sort of a marketplace where people can buy insurance who haven't had great access to it so far. >> sansanjay, it's richard. >> hi, richard. >> hi. at what point can regular americans buy health insurance from these government-sponsored cooperatives? my health insurance is expiring at the end of this year. can i buy a government-sponsored health insurance program?
8:20 am
>> in new york, state of new york has said they're going to do this. they're going to create the exchange. it doesn't have to be fully implemented still for another year. beginning 2014. many states, richard, have said they're either not going to do it or it's still under consideration. in your area, new hampshire, maine, they're saying no, we're not going to do it. kentucky says they're going to do it. south carolina says no. so by november 16th, these states have to decide. many are waiting to see what happened this week frankly. if a state decides not to do it, then the federal government may go into those states and create the exchange themselves. but again this is this competitive marketplace, which is part of the way to drive down costs, have these insurance companies compete for business. >> sanjay gupta for us this morning. thank you. appreciate it. >> you got it. thank you. still ahead the dow tanks, worst day of the year. is there more trouble ahead in the market? we'll take a look at that with christine, straight ahead.
8:21 am
one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now.
8:22 am
♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing.
8:23 am
8:24 am
welcome back to "starting point." i'm christine romans, minding your business this morning. the dow had its worst day of the year yesterday, down more than 300 points, about 3.2%. when you look at the sectors inside the market, in some of these sectors you can see a reaction to the re-election of president obama. banks fell sharply. the certainty of obamacare hit insurers and coal stocks, for-profit education companies and dividend-paying stocks all fell, too. the president has proposed higher taxes on some investments for some folks. one sector that was up is hospitals, obamakerosene as safe now. that's one reason why hospitals
8:25 am
were doing better. stock futures, by the way, this morning are up a bit. that means at least until the opening bell we're not expecting more big selling like we saw yesterday. also new numbers this morning from fidelity show that 401(k) balances are at their highest in at least 12 years. the average balance now is $75,900. let me say it again. $75,900. do you have that much? up 18% from the third quarter last year. also rising, employer contributions, up 18%. they're almost $3,500 now in company matches. >> can i ask you, christine? >> sure. >> was wall street surprised that president obama won? you would think that some of that would have been baked into the stock prices. >> part of the big reason for the sell-off yesterday was concerns about europe and the fiscal cliff and how short of a time there is to fix it. also about the same time as the stock futures started going down yesterday the european central
8:26 am
bank president mariodraghi with pessimistic statements about europe and that got the ball rolling. and from investors they wanted a romney win even though they were sort of banking on an obama win. that played out too. >> maybe a rebound today? >> it looks like it. i don't see two big down days the last time the president was elected. two very big down days. >> what about the energy sector? >> they went down, too. they're worried about more regulation. >> and coal. >> also oil. >> we'll keep talking about this. we're going to hit our commercial break on time. we'll talk about the fiscal cliff when taxes could go up. austan goolsbee will be our guest state ahead. >> you probably heard of more "star wars" movies on the way. yay. which loveable character could be making a return from a galaxy far, far away. tdd#: 1-800-345-2550 let's talk about low-cost investing.
8:27 am
tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has tdd#: 1-800-345-2550 a better chance to grow. tdd#: 1-800-345-2550 and you can trade all our etfs online, tdd#: 1-800-345-2550 commission-free, from your schwab account. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 so let's talk about saving money, tdd#: 1-800-345-2550 with schwab etfs. tdd#: 1-800-345-2550 schwab etfs now have the lowest operating expenses tdd#: 1-800-345-2550 in their respective lipper categories. tdd#: 1-800-345-2550 call 1-800-4schwab tdd#: 1-800-345-2550 or visit schwab.com tdd#: 1-800-345-2550 to open an account today. tdd#: 1-800-345-2550 funding is easy tdd#: 1-800-345-2550 with schwab mobile deposit. tdd#: 1-800-345-2550 investors should consider tdd#: 1-800-345-2550 carefully information d#: 1-800-345-2550 contained in the prospectus, d#: 1-800-345-2550 cluding investment objectives, d#: 1-800-345-2550 risks, charges, and expenses. d#: 1-800-345-2550 you can obtain tdd#: 1-800-345-2550 a prospectus by visiting d#: 1-800-345-2550 w.schwab.com/schwabetfs. please read the prospectus tdd#: 1-800-345-2550 carefully before investing. tdd#: 1-800-345-2550
8:28 am
two. three. my credit card rewards are easy to remember. with the bankamericard cash rewards credit card, i earn 1% cash back everywhere, every time. [ both ] 2% back on groceries. [ all ] 3% on gas!
8:29 am
no hoops to jump through. i earn more cash back on the things i buy most. [ woman in pet store ] it's as easy as... [ all ] one! -two. -[ all ] three! [ male announcer ] the bankamericard cash rewards credit card. apply online or at a bank of america near you.
8:30 am
welcome back, everybody. we are waiting for those weekly jobless claims. we'll get those numbers to you. christine will get those numbers to you as soon as we get them. no fiscal honeymoon for president obama, that's the warning from fitch ratings, coming hours after his re-election. they've threatened to lower the nation's aaa credit rating.
8:31 am
with congress still divide it could take a while to reach any kind of compromise. speaker john boehner told reporters not to expect any long-term solution any time soon. >> we won't solve the problem of our fiscal balance overnight and certainly not in a lame duck session of congress and it won't be solve d simply by raising taxes or taking a plunge off the fiscal cliff. what we can do is avert the cliff in a manor that serves as a down payment on and catalyst for major solutions enacted in 2013 to begin to solve the problem. >> austan goolsbee, professor of booth school of business, and former chair on the economic advisers. great to have you back with us. great to see you. >> great to see you, soledad. >> thank you. appreciate t we have a little chart of this. for folks who are trying to figure out what the fiscal cliff really is, here is a look. automatic spending cuts, $55
8:32 am
billion in defense, $55 billion in nondefense, bush tax cuts, amt, payroll tax holiday, federal unemployment benefit extension. this is kind of short version of it. now that the election is out of the way, how do you feel about the tone that you're hearing from harry reid on one side and from john boehner on the other side? do you feel optimistic that there could be a solution from what they're saying? >> well, you know, i revised a little bit -- i thought speaker boehner's statement that he gave in the press conference that he had, it appeared that he was opening the door in a way that i hadn't expected. i think the size of this thing is pretty serious. i mean, whether you -- whatever you think of the stimulus act, the biggest year of the stimulus was about a plus $275 billion. if we go off the fiscal cliff it's about a minus $650 billion in the year 2013.
8:33 am
it's a pretty serious issue but it can't be looked at on its own as speaker boehner said. it's got to be part of a grand barring with an. and hopefully there will be some room for compromise. i fear there's still one more celebrity death match still left in that old kind of tea party viewpoint. >> let's talk about some of the items in that grand bargain here. it's john berman, austan. one of the few specifics president obama ran on is letting the bush tax expire for those making more than $250 thouchlt that was a hold-up in the last negotiations. will the president budge off of that? is there a number he would agree to that is north of $250,000? >> i'm not sure about that. you know, i'm not party to the negotiations. i do know the -- as you say, the main sticking point in the end -- they almost had a grand bargain deal last year, but the main sticking point was that the critics of the president wouldn't tolerate any revenue. and if they can work out some
8:34 am
negotiation on revenue, i think that they will find the president is pretty open to a balanced approach that was like the bowles simpson fiscal approach or several others that say if you do more cuts than revenue, but have some revenues in there -- maybe they can sort it out. i would be encouraged. >> you think tax reform here, though, is the issue? that's what john boehner said we need to see. in reform you get more revenue, but not necessarily by taxing the people who could create the revenue and the jobs. >> austan, before he answers, i'm going to interrupt you. i'll let you answer on the other side. >> 350,000 jobless claims last week, drop from 8,000 claims from the week before and i'm going to go out on a limb and say hurricane sandy, this is the first number we've seen superstorm sandy mess up. we're going to start to see -- if you were hunkered down waiting for a hurricane you
8:35 am
weren't necessarily going out to file first time unemployment benefits, were you? from here on out that's a good question for austan, too. we'll start to see a lot of noise in the economic reports as we try to figure out if the economy is healing because of sandy. >> first back to the tax reform question. can you answer that? >> therein lies the rub of the statement yesterday. if by raising revenue through tax reform meant let's go in and figure out how we broaden the base and get rid of deductions and exemptions, then i think there's a chance. if by that, when speaker boehner meant was we're going to rely on the curve, only raise revenues by cutting rates and counting on the tax cuts to pay for themselves, that will definitely not work. the evidence does not suggest, nor does the congressional budget office give you credit for raising revenue by cutting taxes, because it doesn't work. >> let's talk about what timothy
8:36 am
geithner said. he wasn't going to stay long in the second term of president obama. ali velshi was talking to the ceo of pinco and basically sort of laughed out loud. >> he said no. he said no, i don't want to be treasury to the secretary. >> he did one of those i'm so, so happy at pimco, there's no way i would ever want to do that job. who do you think it could be? >> i don't know. i've known secretary geithner for some time. boy, the poor guy has been through the ringer, financial crisis, debt ceiling, one thing after another. if he wants to go back and be with his family, if anybody deserves it, he has. i think it strikes me that the big issue of 2013 on the economic side is going to be confronting the grand bargain. whoever is his replacement will need to be totally up to speed on budget tax reform and those kind of issues. that's what's going to be what's facing us. >> austan goolsbee, thank you
8:37 am
for joining us. appreciate it. >> thank you guys. another krcrippling blow to the northeast overnight. nine days after superstorm sandy, powerful nor'easter leaving well over 600,000 customers without power this morning, being forced to endo your danling winds, service on the long island railroad suspended again last night. here is the outrage story of the morning. new york's emergency management chief fired by the governor andrew cuomo by allegedly sending workers to his own home on long island for clearing a fa fallen tree. >> good. they should fire him. that's ridiculous. jesse jackson jr. is holding plea deal talks with the feds over his alleged misuse of campaign funds. 's easily won row election even though he reportedly is undergoing treatment still at the mayo clinic for bipolar
8:38 am
disorder and depression. spokesman for the congressman is refusing to comment. pharmacy board has been fired and the board's attorney is now on administrative leave. massachusetts health officials say they ignored a complaint that was made in july that necc was sending bulk shipments to colorado which reportedly violates its colorado and massachusetts licenses. 8-year-old girl from utah has become a viral video star thanks to footage of her just tearing it up with the youth football league team. sam gordon, wearing number 60. can't miss her, because she's awesome! look at her go. played soccer in the past but is a big fan of brigham and young football team and decided to give football a try this year. bringingham & young, keep your eye on her. she is good. >> i didn't realize there were coed football teams for young kids. is that typical? >> i don't know. >> good point. >> there should be if there are girls that good, you'll see more. >> coed team. >> great picture of her, too.
8:39 am
she's kind of sitting there. >> she's 8. >> she has that look. >> when you get to the end zone, act like you've been there before. sam gordon knows that. >> still ahead on starting point this morning, david alan grier will join us, and help us look at the lighter side of campaign 2012. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪
8:40 am
♪ ♪ ♪ ♪ hi dad. many years from now, when the subaru is theirs... hey. you missed a spot. ...i'll look back on this day and laugh. love. it's what makes a subaru, a subaru.
8:41 am
throughout our lives. one a day women's 50+ is a complete multivitamin designed for women's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day 50+.
8:42 am
gun violence is on the rise in many african-american communities. a local educator and trauma surgeon have created an innovative program to try to save the lives of potential victims even before they arrive
8:43 am
in the emergency room. sarah hoye has this week's "black in america" report. i work with gunshot victims. how many do you know people who have been shot? >> co-founding the cradle to grave program to help produce gun violence in the city of brotherly love. >> what we're going to do today is take you behind the scenes, pull back the curtain and let you see what we do. >> bringing local high school students inside temple's trauma center to relive the final 15 minutes of life by a teen killed by gun violence. >> that young boy stood over lamont and fired ten more shots into him. >> gun violence can kill. i think it's really our responsibility to prevent these kids from coming in. >> reporter: among america's lar largest cities, philadelphia's ahomicide rate is the worst, with african-americans making up
8:44 am
85% of the victims. >> statistics suggest as a young black man you have a greater chance of being shot and killed in philadelphia than you would have if you were a soldier serving in the conflicts of afghanistan or iraq. that's absurd to me. >> reporter: since 2006 more than 7,000 students have come through the cradle to grave program. >> i don't want that to happen to me. i want to be able to live, be someone my mom would want me to be. >> we want to teach them the preciousness of life. that in an instant your life can be changed forever. >> reporter: change they want for the better. sar sarah hoye, cnn, philadelphia. it's been five years since we did our original groundbreaking "black in america" series. this is our fifth anniversary. whoa take a look at colorism and identity with who is black in america. that's our newest documentary airing on december 9th at 8:00 pm and 11:00 pm eastern time here on cnn. >> fantastic. couldn't be more timely.
8:45 am
>> really, really fascinating topic. coming up next, fiscal cliff, congressional divide. could anything be funny in this environment? comedian david alan grier would say yes. what if there was a new way to deal with money that focused less on fees and more... on what matters? maybe your bank account is taking too much time and maybe it's costing too much money. introducing bluebird by american express and walmart. your alternative to checking and debit. it's loaded with features, not fees. because we think your money should stay where it belongs. with you. the value you expect. the service you deserve. it feels good to bluebird. get it at your local walmart. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait,
8:46 am
you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. to volunteer to help those in need. when a twinge of back pain surprises him. morning starts in high spirits,
8:47 am
but there's a growing pain in his lower back. as lines grow longer, his pain continues to linger. but after a long day of helping others, he gets some helpful advice. just two aleve have the strength to keep back pain away all day. today, jason chose aleve. just two pills for all day pain relief. try aleve d for strong, all day long sinus and headache relief.
8:48 am
point," everyone. expect your thanksgiving flight
8:49 am
to be stuffed. 150,000 more passengers are expected this year than last year. in total, 23.7 million expected to fly during the 12-day thanksgiving period. this is news for senator kay bailey hutchison. dust off the millennium falcon. >> why, you stuck up, half witted, scruffy look iing herde >> who is scruffy looking? >> 70-year-old harrison ford is open to the idea of playing hans solo again for the just announced "star wars" sequel star wars vii. mark hamill and carrie fisher are also interested. overshadowed by the last week by the presidential election. >> spoiler alert. brother and sister? >> you need to go back and watch. thank god those negative ads
8:50 am
are off the air, by the way. overall mud slinging in the campaign. there was a fair amount to laugh about. listen. >> the folks, i can tell you -- and i've known eight presidents, three of them intimately. >> morning y'all. i like grits. i love big bird. >> there's never been a day in the last four years i've been proud to be his vice president, not one single day. >> as some of you may have noticed i had a lot more energy in our second debate. i with his really well are rested after the nice, long nap i had in the first debate. >> not familiar precisely with what exactly what i said but i stand by what i said whatever it was. >> throw-letter word, jobs. j-o-b-s. jobs. >> join me in welcoming the next vice president of the united states, paul ryan. >> stamped with three proud
8:51 am
words, made in the u.s.a. >> comedian david alan grier joins us this morning. there were funny moments, drowned out by negativity. what do you think, as you look back? >> there were a lot of funny moments. i like the republican debates, in particular. it's not like i have a pocketful of jokes, but i talk a lot about president obama. he looked tired in the first debate because he actually has a job. like he's running stuff. and then i think well, maybe he already knows their strategy, their ground game, that the election is already over. he's going to take ohio and florida won't even be a question. maybe that's why he was so relaxed. >> do comedians look at things like a presidential election in regards of where they stand ideologically, boy if so-and-so is elected this will be much better for me? because this person is funny? would romney have been a better
8:52 am
candidate funnywise? >> yeah. barack obama is so cool and calm and reserved. you know, he's not going to have that crazy moment. i was of two minds. i voted for barack obama, but my comic funny bone was like, mitt romney, that's like two hbo specials. >> you have biden. >> biden is always -- >> not just biden but seriously hinting he may run in 2016. what kind of a boone is that for you? >> let's hope not. >> i thought it was hilary. i thought hillary was going to run. >> chris christie, snl's clip of chris christie. i thought that was hysterical. then we'll talk about it on the other side. >> i would like to give a sincere thanks to president obama for how he handled the situation. on election day, i'm voting for mitt romney. but if i had to pick one guy to have my back in a crisis it would be barack obama. he has been amazing. you know, so kind, such a leader, true inspoiration. again, i'll be a good soldier.
8:53 am
i'll vote for romney, but i'm going to hate it! can you hear me? i will hate it! >> boy, he really endorsed president obama, right? >> i think there are a lot of conservative republicans who feel that way and are very angry about it. >> i thought he did, didn't he? >> he didn't officially endorse him, no. >> but he praised his leadership. >> he did better, yes. he did better. >> which is, your right. in some ways, people don't care about endorsements but when someone from the other party says you're doing great responding to this storm that is bigger than an endorsement. >> probably did a lot for his own re-election, governor christie. he did a pretty good job for new jersey during the storm but it was very unusual. >> but don't you think he's a smart politician, right? he knows that new jersey's probably going to go to the democrats, right? his constituency, as it is -- if he knows that -- he probably thought that obama was probably
8:54 am
going to be re-elected. he was hedging his bets. >> i don't know that he knew that. i do think that there was a lot of money on the table to help his state and they were reeling and he would like to get a big chunk of that money. >> you know that. >> a smidge about -- >> how much. >> i know that it's definitely -- if you're a governor of a state that needs financial help, you're going to want to figure out how to get that money for your state. no doubt about that. >> can i go back to this obama and he's hard to make fun of? what's the vein you can tap when you can lock or have some fun with obama? >> i know that for me, i mean, when i'm touring around the country, first of all, the attitude now is different than four years ago. when he was first elected i was making fun of obama on the chocolate news and live dates and people were like, we shouldn't be laughing. oh, yeah, because all racism is
8:55 am
over now, right? we're one big happy family. we saw that isn't true. >> one area where they're trying to make fun of the president. >> excuse me, governor. mr. president? >> i'm sorry. yeah, yeah. what's up? >> mr. president, governor romney has just said that he killed osama bin laden. would you care to respond? >> no. you two go ahead. >> so tone changes this time around. >> exactly. everybody knows what it is. it's not -- some people -- i even heard some pundits say they feel the racial climate is even worse than it was before he got elected. the political climate. i don't know. i know that everybody is a lot looser now and we all know it's going back to normal. >> the al smith dinner, i think, showed that you could make fun of him on -- just look at all
8:56 am
this redistribution opportunity out here. and everybody laughs because that's real. and then when romney says, oh, yeah, this is the way ann and i dress at home, you know, those are the kinds of things that i think are great in a campaign. those were the finest hours for both of them. >> absolutely. >> thank you for being with us this morning. we love having you. kch h catch him at the stress factory club this weekend. but i still . [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] to learn more about the cold truth and save $1 visit alka-seltzer on facebook. [ male announcer ] to learn more about the cold truth capella university understands back from rough economic times.
8:57 am
employees are being forced to do more with less. and the need for capable leaders is greater than ever. when you see these problems do you take a step back, or do you want to dive right in? with a degree in business from capella university, you'll have the knowledge to go further in your career than you ever thought possible. let's get started at capella.edu playing sports is just my whole life. looking back, if it wasn't for shriners hospital, things would just be really, really different. i lost my leg when i was a kid. there was a time when i felt like i wasn't going to be able to walk again... it was a pretty bad accident but shriners showed me who i could be again. they turned my whole life around.
8:58 am
they call it 'love to the rescue' and it really works. hunter's life is one of nearly a million changed by donations from people like you. send your love to the rescue. donate to shriners hospitals for children today. email marketing from constant contact reaches people in a place they're checking every day -- their inbox. and it gives you the tools to create custom emails that drive business. it's just one of the ways constant contact can help you grow your small business. sign up for your free trial today at constantcontact.com/try. i wish my patients could see what i see. ♪
8:59 am
that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup in their arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alone aren't enough, i prescribe crestor. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines you're taking. call your doctor right away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. ♪ is your cholesterol at goal? talk to your doctor about crestor. [ female announcer ] if you can't afford your medication, astrazeneca may be able to help.

186 Views

info Stream Only

Uploaded by TV Archive on